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NY AG and SEC probe pension fund investments

MSN MoneyCentral – A corruption scandal at the state’s retirement fund is the latest in a long string involving politically connected intermediaries called placement agents sometimes hired by investment firms hoping to land rich investment deals with pension officials, experts said.

New York Attorney General Andrew Cuomo and the Securities and Exchange Commission are examining millions of dollars in payments that several hedge funds and private equity firms paid to placement agents during the tenure of state comptroller Alan Hevesi.

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